GenNBio Inc. (KOSDAQ:A072520) agreed to acquire Tycoin Industry Co., Ltd from Junkyu Kim, Yeonkyu Kim and Jungkyu Kim for KRW 24 billion on April 19, 2023. Under the terms of transaction, GenNBio will pay KRW 15 billion at time of signing and will pay KRW 3 billion on December 20, 2023 and remaining KRW 6 billion on January 25, 2024. Tycoin Industry reported total assets of KRW 8.3 billion, total debt of KRW 5.1 billion, sales of KRW 8.5 billion and net income of KRW 605 million for the period ending December 31, 2022.

Transaction is expected to close on June 30, 2023. As of May 9, 2023, the transaction is expected to close on October 31, 2023. The transaction is now expected to close on January 25, 2024.

The transaction is now expected to close on April 15, 2024. The transaction is now expected to close on June 20, 2024.